Are credit card pre-approvals important?


NEW YORK – March 7, 2022 – (

iQuanti: There is always some uncertainty with credit cards. Either way, you can never be 100% sure of your chances of being approved.

Fortunately, you can get a good idea of ​​your chances of approval by researching a credit card pre-approval.

Below, we’ll cover credit card pre-approvals in detail and show you why they’re important to get.

What are pre-approvals?

If you’re unfamiliar with the term, you might not even know what pre-approved means.

Credit card pre-approval involves being pre-screened for certain card terms without going through a formal application. You are not guaranteed to get these conditions, but you know you have a good chance.

Card companies do an informal inquiry – an informal credit check – to screen you out. This is a less thorough review of your credit rating and history, but it doesn’t damage your credit.

Many card issuers send pre-approval offers by mail. These list the terms on the mail and provide a code you can use to apply for the offer. Alternatively, some issuers have online pre-approval tools.

Benefits of pre-approval

Getting pre-approved for credit cards gives you a few advantages in your credit card search:

1. Avoid difficult requests

Card companies do an informal inquiry instead of a serious credit-damaging inquiry to get you pre-approved. This saves you from making difficult inquiries when applying for credit cards – you’ll know which cards you have a high chance of approval with.

2. Reduce research time

Many lenders send out pre-approval letters in the mail. They’ll show you the terms you might be prequalified for and offer you a code on the letter to take advantage of the offer.

This can potentially reduce your search time if the offer is good enough.

Alternatively, using an online prequalification tool can also reduce your research time. If you get good enough terms from a prequalification, it helps you decide if you want to go ahead with that map instead of continuing your search.

3. Potential introductory bonuses

Some card companies may offer a promotional 0% introductory purchase or balance APR for pre-approved applicants. This can help you make major purchases or consolidate/refinance debt.

Another bonus they can offer you is a sign-up bonus. These allow you to earn a sum of money – usually $150-300 – after spending a certain amount (like $3,000) within a certain time (like 3 months).

Yes, credit card pre-approvals are important

Credit card pre-approvals are quite simple to obtain, but offer several advantages. Primarily, they help you minimize your research time and save your credit by reducing difficult inquiries. At the same time, they offer you the opportunity to earn some nice credit card bonuses.

With that in mind, don’t ask for the first credit card you find. Look for a few pre-approvals, then weigh the terms and benefits of each before applying for the one that best suits your needs.

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Are credit card pre-approvals important?


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